The PMI Group Appoints Michael Edwards as Field VP -Europe

March 3, 2004

The California-based PMI Group, Inc. announced that it has promoted Michael Edwards to Field Vice President, PMI Europe, where he will assume the role of Head of Risk & Operations.

He joined PMI in 1990, and has managed the company’s Hong Kong operation for the last five years, “successfully establishing PMI’s first non-domestic branch office.” PMI’s bulletin noted that “through Mr. Edwards’s leadership” it now holds the largest share of the mortgage guaranty reinsurance market in Hong Kong.

“As director of Hong Kong operations, Michael did a magnificent job overseeing all operational aspects of PMI’s Hong Kong office. His success at launching an operation from inception and subsequently gaining the largest market share in Hong Kong speaks for itself. We welcome Michael to our European operation where he will help manage our growth plans,” stated Tony Porter, Managing Director and Chief Operating Officer, PMI Europe.

PMI said it would “exploit Mr. Edwards’s ability to understand local risk issues, establish strong working relationships with customers and to manage diverse administrative tasks. Mr. Edwards will manage the underwriting, claims and general administration areas. He will be involved in policy construction for Europe, overseeing the audit and quality control functions and managing the application and development of technology for new and existing business.”

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